Carillion's former chairman Philip Green has been previously found in breach of trust by the Pensions Ombudsman.
Green was one of three to be censured by the body back in 1994 over their handling of wallpaper and home furnishings group Coloroll.
Coloroll chairman John Ashcroft was found to have abused his control of a company pension fund to inflate his pension benefits at the expense of fellow directors, according to reports at the time.
Michael Platt, the Pensions Ombudsman, found that Ashcroft and his fellow trustees – Philip Green and Eric Kilby, respectively Coloroll's managing and financial directors – were guilty of a breach of trust and of maladministration of the pensions scheme.
The news has surfaced as the government revealed it has ordered a fast-tracked investigation into directors past and present.
Yesterday City A.M. reported that Green, who is no relation to the Arcadia boss, had been an adviser to the David Cameron government on corporate governance, although he was let go shortly after Theresa May took on the reins in 2016.
Green is also chairman of Williams & Glyn, the bank that RBS has failed to sell off as part of its bailout conditions.